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Not signing loan agreement
amillionlittlepieces
Posts: 96 Forumite
in Loans
Hi Guys
I recently applied for a Sainsburys Bank loan to refinance a car hp finance I had to try and get a lower rate. Sainsburys advertised at 3.9% but I was only offered 9.4%! So I don't want to take the loan out. Is all I need to do not sign anything? Do I need to inform them? Also does anyone know if this will have a negative effect on my credit report should I not sign?
Cheers
I recently applied for a Sainsburys Bank loan to refinance a car hp finance I had to try and get a lower rate. Sainsburys advertised at 3.9% but I was only offered 9.4%! So I don't want to take the loan out. Is all I need to do not sign anything? Do I need to inform them? Also does anyone know if this will have a negative effect on my credit report should I not sign?
Cheers
LBM Jan 14 - Debt £30,500.48
January 2014 - 31st May 2016 DEBT FREE!!
Target Savings £500,000.00 Retire Early!!
Cash Savings £15,492.23
S&S ISA £60,560.54
January 2014 - 31st May 2016 DEBT FREE!!
Target Savings £500,000.00 Retire Early!!
Cash Savings £15,492.23
S&S ISA £60,560.54
0
Comments
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I'd let them know, just incase they decide to send the money anyway (stanger things have happened, and you would need to pay it back).
The search will be on file, however your file will be otherwise unaffected.💙💛 💔0 -
whats the car apr, as thats a lower loan aprDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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Thanks CKhalvashi I will let them know.
Chanz4 The APR offered is the same as my current finance deal so no benefit in taking it outLBM Jan 14 - Debt £30,500.48
January 2014 - 31st May 2016 DEBT FREE!!
Target Savings £500,000.00 Retire Early!!
Cash Savings £15,492.23
S&S ISA £60,560.540
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